ILMN (US)

With press reports indicating that the White House will seek NIH funding cuts of more than 40% in its upcoming FY26 budget release, the overhang on life science tools (LST) names [BRKR, ILMN, AVTR, A,…

Events today support our view that NIH grant funding benefitting life science tools (LST) manufacturers will likely stabilize, and that the Trump administration’s Feb. 7 announcement of a 15% cap on indirect costs for all…

NIH’s surprise announcement Friday of a 15% cap on indirect costs for both new and existing grants will likely trigger fresh uncertainty for life science tools (LST) manufacturers. While indirect costs are technically distinct from…

The four hours RFK spent with the Senate Finance Committee today bolsters our view that he is likely to be confirmed as HHS Secretary. Despite investor concerns with his antipathy for corporate medicine, we think…

With the life science tools (LST) space still trailing broader market moves following the Nov. 5 election, in part due to investor concerns over NIH funding, we continue to believe that significant budget cuts are…